The NFT market Blur airdropped 360 million BLUR tokens this week. After the airdrop, BLUR value fell 85% because the holders bought their tokens. The latest rebound within the BLUR value amid huge hype brought about a number of customers to remorse promoting their BLUR tokens. The native token of Blur has now entered the highest 100 crypto listing.
yh.eth, an NFT researcher at crypto analysis agency Delphi Digital, in a tweet on February 19 mentioned promoting his BLUR airdrop was a mistake. He additionally revealed that the Blur Bidding mechanism shall be a recreation changer for the NFT area.
The NFT market is at the moment dominated by whales, which contribute majorly to the buying and selling quantity. However, whales simply need to purchase cheaper and promote shortly to make income. Also, the market lacks NFT buying and selling expertise and liquidity.
If somebody needs to promote 20 Doodles NFT immediately, it could probably take days to weeks to promote all of the NFTs. Another downside is the downward spiraling ground value and the necessity to actively re-adjust the ground value.
How Blur Is Different?
Paradigm-backed Blur NFT marketplace launched in October final 12 months and solved the liquidity downside by introducing the Bid Points system. The bid mining mannequin is basically a liquidity pool transaction the place customers present ETH, not WETH, liquidity to a liquidity pool. Similar to Uniswap’s AMM innovation for the DeFi area to scale back liquidity points.
Blur’s bidding system incentivizes customers who need the airdrop and bear the chance of NFT costs as soon as the bid is accepted. More liquidity on Blur than OpenSea permits customers to commerce extra. Also, whales can purchase or promote giant quantities of NFTs frictionlessly.
Moreover, the BLUR token launch permits worth distribution to the group. The majority of the airdrop within the first season has already been claimed, with over billions in BLUR buying and selling quantity. A redistribution of BLUR from small to massive buyers, whales, and crypto influencers reminiscent of BitMEX founder Arthur Hayes is occurring. The BLUR circulating supply will enhance to 1 billion by the year-end.
Also Read: What’s Driving BLUR Token Prices
Binance Still Has To List BLUR Token
The world’s largest crypto change Binance nonetheless has to listing the BLUR token. The itemizing is predicted to additional enhance the buying and selling quantity and value of BLUR. The second airdrop will occur sooner and recipients rely upon the NFT buying and selling and bidding course of.
Major crypto exchanges reminiscent of Coinbase have already listed the BLUR token. The value at the moment trades at $1.30, up 10% within the final 24 hours.
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